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Consumer confidence increasing

Consumer confidence increasing

Category: Savings

Updated: 27/01/2010
First Published: 31/03/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumer confidence is at its highest level for nine months, it has been revealed.

GfK NOP's Consumer Confidence Index increased by five points in March and is now at a level not seen since May last year.

While confidence is still historically low, falling interest rates and reductions to household bills seem to have galvanised optimism in UK consumers.

Confidence in the general economy over the next 12 months has also improved markedly, rising by some nine points.

Indexes for personal financial situations, savings and major purchases all showed increases.

"When looking to the future, consumers are feeling better about the likely performance of the economy over the next 12 months," commented Rachel Joy of the GfK NOP consumer confidence team.

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